FS Investments, an alternative investment manager with more than $24 billion in assets under management, is set to acquire Chiron Investment Management, a global multi-asset investment boutique.
Having launched three funds just four years ago, Chiron currently manages approximately $1.8 billion in assets raised across its global distribution platform. Following the close of the transaction, FS will add Chiron's three funds to its current offerings.
"This is a unique opportunity to diversify our investment management business and expand distribution with a firm that shares our culture, has a high-quality management team and offers a differentiated investment approach," said Chairman and Chief Executive Officer of FS Investments Michael Forman.
Following the close of the transaction, Enrico Gaglioti, CEO of Chiron, will join FS in a senior leadership position. Ryan Caldwell, Chief Investment Officer of Chiron, and his team will continue managing all of Chiron's funds at FS, employing the same investment approach and processes upon which Chiron was founded.
The transaction, which is expected to close in the first quarter of 2020, is subject to customary regulatory approvals and closing conditions, including approval by shareholders of the Chiron funds. Financial terms of the transaction were not disclosed.